Insurance Policy for Doctors

For a patient, his doctor is a person who guarantees sound well being through flawless treatment. Unfortunately, human inaccuracy cannot be removed and medicos are exposed to the hazards of assertions from customers who have undergone losses caused due to negligence, fault or omission.



Professional Insurance Policy for Doctors averts any considerable threat posed to the fiscal security of the medical practitioner. It not only safeguards the professional interests of the doctors by suggesting safety measures to them but also protects the health of the clients.

Companies offering Professional Insurance Policy for Doctors

ICICI Lombard

Inclusions

Assertions arising out of physical damage or fatality caused by any inaccuracy, lapse, carelessness
Legal accountability incorporating security expenses acquired while examination, reimbursement etc.
Authorized expenditures
Exclusions

Illegal activities
Activities performed under Influence of drugs
Weight loss
Operations such as Plastic surgery
Conditions related with HIV Aids
Non acquiescence with legal conditions
Retaliatory and exemplary injuries
Blood Banks
Sum Insured

On the basis of the disclosure, the insurer has to allot two limits of insurance under the policy:

Any One - Year (AOY)
Any One Accident (AOA)
AOA and AOY should be preferably in the ratio of 1:1 or 1:2.
Premium Rate

Premium paid depends on the Risk category of doctor, perimeters of insurance selected and Ratio of AOA and AOY limits

National Insurance Company Ltd.

Exclusions

Third Party Public accountability
Penalties, retaliatory or estimable damages.
Loss of consumer market, goodwill or any other kind of fiscal loss
Legal responsibility, if any, estimated by concord that would not associate if not for the contract.
Facilities offered under the influence of illegal drugs
Dental healing under general anaesthesia if not performed in hospital.
Usage of drugs for weight loss.
Conditions associated with AIDS
Plastic surgery excluding scar recovery caused due to previous operation or any painful injury.
Personal damages such as defamation, fake arrest, denouncement, psychological injury, etc.
Genetic damages occurred due to x-ray and radioactive materials.
Legal accountability to workers/trainees/freelancers
Inclusions

Coverage for any professional act or faux pas taking place during the tenure insurance, on a condition that the policy is restored without interval and is active when the assertion is made in text against the assured at some stage in the policy tenure.

If the indemnified person claims at some point of the policy tenure, then the approval of such claim symbolizes that the insurer will handle the assertion as if it has been claimed during the policy tenure.

In case of non restoration of the policy, the indemnified will give a specified duration of 3 months for the announcement of assertions for accidents which has occurred during the tenure of policy.
Premium Rate

The premium rate differs between 0.30/100 rupees and 3.00/1000 rupees depending on the kind of Doctor and AOA (Any One Accident) and AOY(Any One Year) ratio.

United India Insurance Co. Ltd

Inclusions -

Insurance for legal accountability to third party emerging out of inaccuracies and lapses or carelessness in professional facilities delivered by the insured
Plans will be issued for a tenure of 365 days
Exclusions -

Any illegal functioning or breaching of any act of decree
Facilities offered under the influence of illegal drugs
Facilities offered by Dentists under anesthesia or any kind of methods transmitted under general anesthesia unless executed in a certified hospital.
Deliberate act of neglect
Third Party Public accountability
Fiscal loss arising due to the loss of goodwill or market
New India Assurance Co. Ltd

Inclusions

Legal liability falling on professionals due to inaccuracies and lapses committed by them while offering professional facilities

Advantage of Retroactive tenure on permanent restoration of policy whereby assertions are registered in successive renewal reported in successive renewal but relating to previous tenure after the first date of the policy, also considered chargeable

Group plans can also be indemnified insuring members of single occupation. Group concession in premium is offered on the basis of the number of associates insured.
Sum insured

The amount insured in this policy is indicated to as Limit of Indemnity, which is allocated on the basis of per policy tenure and per accident namely Any One Year (AOY) limit and Any One Accident (AOA) limit respectively. The ratio these two terms can vary from 1:1 to 1:2, 1:3 and 1:4. The Any One Accident (AOA) level is limited to 25% of the Any One Year (AOY).

source: http://business.mapsofindia.com/insurance/policies/for-doctors.html